JBS Moves Closer to U.S. Listing After SEC Approval
World’s largest meat producer receives regulatory green light for NYSE debut ahead of shareholder vote.
JBS, the global meatpacking company based in Brazil, has received approval from the U.S. Securities and Exchange Commission to list its shares on the New York Stock Exchange. The SEC’s declaration of effectiveness allows the listing proposal to move forward, with a shareholder vote scheduled for May 23.
The listing would be executed through a Dutch parent company, JBS NV, and would also include a dual listing on the São Paulo Stock Exchange. According to the company, the move is intended to increase access to international capital markets, expand its investor base, and enhance market valuation.
JBS has been working toward a U.S. listing for nearly a decade. Previous attempts were delayed by various factors, including the COVID-19 pandemic and past legal challenges. The current proposal does not require approval from JBS’ two largest shareholders, who have chosen to abstain from voting.
The approval has drawn attention from environmental groups and policymakers, some of whom raised concerns about the company’s environmental impact and business practices. JBS is currently facing a lawsuit in the U.S. related to claims about its climate strategy.
Despite these concerns, the SEC’s decision means JBS can move ahead with its plans to offer shares on U.S. markets. The company expects to begin the listing process in early June, pending the outcome of the shareholder vote.